June 05, 2014 (LBO) – Sri Lanka’s stocks closed lower with telco stocks losing ground despite strong foreign buying backed by lower interest rate expectations, brokers said. The Colombo benchmark All Share Price Index closed 0.09 points lower at 6,280.16, down 0.09 percent. The S&P SL20 closed 1.43 points higher at 3,473.43, up 0.04 percent.
Turnover was 896.19 million rupees, down from 1.02 billion rupees a day earlier with 100 stocks closed positive against 83 negative.
John Keells Holdings closed flat at 235.00 rupees with seven off-market transactions of 500.74 million rupees contributing 56 percent of the turnover.
JKHâ€™s W0022 warrants closed 70 cents higher at 64.00 rupees and its W0023 warrants closed 1.00 rupee higher at 75.00 rupees.
PC Pharma closed 30 cents higher at 1.50 rupees and Laugfs Gas non-voting closed 2.30 rupees lower at 27.60 rupees, attracting most number of trades during the day.
Foreign investors bought 580.36 million rupees worth shares while selling 66.22 million rupees worth shares.
Sri Lanka Telecom closed 1.30 rupees lower at 46.70 rupees, contributing most to the index drop.
Bukit Darah closed 10.30 rupees lower at 650.00 rupees and Ceylon Tobacco Company closed 5.00 rupees lower at 1,050.00 rupees.
Cargills Ceylon closed 3.30 rupees lower at 143.20 rupees and Distilleries closed 2.00 rupees lower at 206.00 rupees.
Commercial Bank of Ceylon closed 1.00 rupee higher at 131.00 rupees and NDB closed 2.80 rupees higher at 197.00 rupees.
Nestle Lanka closed 28.70 rupees higher at 1,948.30 rupees.